Reserve Bank’s first pilot project for retail digital rupee is a “game changer” with durable effects that should ensure better monetary transmission at much lesser costs, SBI Chairman Dinesh Khara said on Friday. The central bank started the pilot project for retail digital rupee (e₹-R) in Mumbai, New Delhi, Bengaluru and Bhubaneswar on Thursday and … Read more
Mumbai: The Reserve Bank of India may come out with a model on initial implementation of India’s sovereign digital unit, aka Central Bank Digital Currency (CBDC), as early as “the end of this year,” deputy governor T Rabi Sankar said on Friday. “These (CBDC) are extremely evolving technologies and business choices that one has to … Read more
By Andy Mukherjee Inflation is coming. Or wait, it’s already here. Bond investors are looking at the 4.2% annual rate that U.S. consumer prices jumped to in April and wondering if it’s all because of depressed levels from last year. Could it be that the Federal Reserve is wrong about higher prices being transitory? In … Read more
By Matthew Leising Cryptocurrencies like Bitcoin and Ether will co-exist “for a while” with more-restrictive digital coins such as the one issued by China’s central bank, according to Changpeng Zhao, chief executive officer of Binance. Zhao, who runs the world’s largest Bitcoin exchange, said digital assets issued by central banks will be different than public … Read more